Jaybharat Textiles & Real Estate Ltd

Jaybharat Textiles & Real Estate Ltd

Jaybharat Textiles and Real Estate Limited is an India-based company. The Company operates in two business segments: textiles and real estate. The Company's subsidiaries include Pulgaon Cotton Mills Ltd and Realtime Properties Ltd. Jaybharat Textiles and Real Estate Limited set up an export division for export of yarns and garments. The Company's plants located at Bhilad Gujarat and Pulgaon Maharashtra.The company was incorporated in the year 1985 as Classic Synthetic and Silk Mills under the Tayal Group. The company got its current name in December 2005. During the year 2003-2004 the company commenced its own manufacturing activity and in the same year the company purchased land at Silvassa for further expansion of its manufacturing sector. During the 2004-2005 the company entered into Share Purchase Agreement with promoters of Ashai Fibres Limited which is a 100 % EOU sick Industrial Unit engaged in manufacturing coarse cotton yarn. During the same year the company also purchased 100 % equity of Pulgaon Cotton Mills Ltd which was a subsidiary of Maharashtra State textile Corporation. Ltd. During the year 2005-2006 the company took major steps towards diversification of its business and ventured into the Real Estate Sector and in the same year the company name was changed from Jayabharat Sarees limited to Jayabharat Textile and Real Estate Limited. During the same year the company commenced work on a commercial complex at Vapi Gujarat which comprises of a shopping mall five screen multiplex restaurants food court and commercial offices.During the year 2007-2008 the company commenced production of green field project of spinning and processing at Pulgaon in Maharashtra. During the year 2008-2009 the company knitting units in exports channels some of prominent weaving/knitting clusters included Tirupur in Tamil Nadu and Ludhiana in Punjab and in the same year the company developed sustainable business model with strength and resilience to combat any down turn in demand. March 30 2009 the company CARE assigned a BBB- rating to the long-term bank facilities.As on 31st March 2012 Company had only one material subsidiary viz. M/s. Pulgaon Cotton Mills Limited. Earlier M/s. Realtime Properties Limited was the Subsidiary Company of the Company as Company hold 49994 shares (99.99%) of the Company.During year 2012 M/s. Realtime Properties Limited allotted 950000 new shares and hence from the total Share capital of Realtime Properties Limited now Company hold only 4.99% shares. Therefore M/s. Realtime Properties Limited ceased to be a subsidiary Company of the Company.